Bernice's Preferences Can Be Represented by the Utility Function, U(x

question 5

Multiple Choice

Bernice's preferences can be represented by the utility function, U(x, y) = min{x, y}.She faces prices ($2, $1) , and her income is $12.If prices change to ($3, $1) , the compensating variation

• A)equals the equivalent variation.
• B)is $2 greater than the equivalent variation.
• C)is $2 smaller than the equivalent variation.
• D)is $1 greater than the equivalent variation.
• E)There is not enough information to determine which variation is larger.

---

Definitions:

Preschool Transition Activities

Activities designed to support young children as they move from a home setting into a preschool environment, aiding in adjustment and readiness.

Preschool Teachers

Educators who instruct children between the ages of about three and five, prior to kindergarten, focusing on early development and learning.

Transition Needs

The requirements or support necessary for individuals to effectively move from one stage or condition to another.

Audience-Member Family Activities

Activities involving family members as audience participants, typically in events like school plays, concerts, or sports games where they watch and support.